Premium brought by the new partner will be shared by the existing partners in:
According to section 31(1) of _____ new partner can be admitted only with consent of all existing partners
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Ways in which incoming partner may acquire his share except:
Incoming partner may acquire his share from the old partners
(i) In their old profit sharing ratio
(ii) In a particular ratio
(iii) In particular fraction from some of the partners
In which of the above mentioned alternatives
X and Y are partners sharing profits in the ratio of 3:2. Z is admitted for 1/5 share. All partners have decided to share future profits equally. The profit of new partnership firm was Rs.30,000. This profit will be shared by all the partners in _______
Why new profit ratio is determine even for old partners?
When a new partner is admitted he acquires his share of profits , this will ____ the old partner’s shares in profits:
__________ means good name, good product or reputation earned by a firm through the hard work and honesty of its owners
Sometimes the value of goodwill is not given at the time of admission of a new partner. In such a situation it has to be inferred from the arrangement of the capital and profit sharing ratio. This concept is called
Which of the following is not an example of Reconstitution of partnership firm?
Amount brought by a new partner for his share in goodwill is known as _____
At the time of admission of a new partner, new profit sharing ratio is calculated. The new partner acquires his share from the old partners and as a result profit shares of old partners is reduced. What is it known
Section ____ of the Indian Partnership Act provides that a new partner shall not be inducted into a firm without the consent of all existing partners
The amount of goodwill brought in by the new partner is shared by the ____ partners in their ____ ratio
What adjustments are mainly done at the time of admission of a new partner?
(i) Adjustment in Profit sharing ratio
(ii) Goodwill
(iii) Accumulated profits, Reserves and losses
Is admission of a new partner is a reconstitution of partnership firm:
Sacrificing ratio is differ from new profit sharing ratio
Reserve appearing in the Balance sheet will be divided among partners during admission in _________ ratio.
A and B are partner sharing profits and losses in the ration 5 : 3. On admission, C brings Rs. 70,000 cash and Rs. 48,000 against goodwill. New profit sharing ratio between A, B, C is 7:5:4. The sacrificing ratio among A and B is :
A, B, C, D are partners sharing their profits and losses equally. They change their profit sharing ratio to 2:2:1:1. How much will C sacrifice?
The balance of memorandum revaluation account (second part), is transferred to the capital accounts of the partners in:
A, B, C are partners sharing profits in ratio of 3:2:1. They agree to admit D into the firm. A, B, and C agreed to give 1/3rd , 1/6th, 1/9th share of their profit. The share of profit of d will be:
A, B, and C share profits and Losses in the ratio, of 3:2:1. D is admitted with 1/6 share which he gets entirely from A. New ratio will be:
R and S are partners sharing profits in the ratio of 5:3. T joins the firm. R gives 1/4th of his share and S gives, 1/5th of his share to the new partner. Find out new ratio.
A and B carry on business and share profits and losses in the ratio of 3:2. Their respective capital are Rs. 1,20,000 and Rs. 54,000. C is admitted for 1/3rd share in profit and brings Rs. 75,000 as his share of capital. Capitals of A and B to be adjusted according to C’s share. Calculate the amount refunded to A.
General Reserve at the time of admission of a partner is transferred to ____________ .
Which account will be prepared at the time of admission of a new partner for giving effect of revaluation of assets and liabilities without changing the value of assets and liabilities of old Balances Sheet?